Tag: Currency Devaluation

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Inflation Explained: What It Is and Why It Happens

While many are familiar with inflation, which indicates a decline in currency purchasing power alongside a general rise in the cost of goods and services in an economy, there is a common misconception that inflation is natural. In reality, it is largely driven by an increased money supply, manipulation of interest rates, and quantitative easing…
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Nigerian Currency Plunges to New Low Versus the USD, Central Bank Governor Says Naira is ‘Undervalued’

The Nigerian currency reportedly plunged to a new low versus the U.S. dollar on the official market on Jan.25. Central Bank governor Olayemi Cardoso has said the naira is currently “undervalued” and that efforts are underway to rectify this. Official and Parallel Market Exchange Rates Nearly Converge The beleaguered Nigerian currency has plunged to a…
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